Molded Interconnect Devices Market size predicted to grow with 13.8% CAGR to hit USD 629.5 million by 2023

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Molded Interconnect Devices Market size predicted
to grow with 13.8 CAGR to hit USD 629.5 million
by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Molded Interconnect Devices
Market

• Automotive molded interconnect devices market is
  forecast to grow at 14.8 CAGR from 2016 to 2023.
  It is expected to be valued at over USD 75
  million by 2023. Surging implementation of these
  devices in brake-light fixtures is expected to
  propel growth.
• Two-shot molding MID market is estimated to be
  valued at over USD 490 million by 2023. High
  tooling costs involved in this procedure is
  projected to negatively impact the industry.
• These products offer wide range of application in
  numerous industry segments such as
  telecommunications, automotive electronics,
  domestic appliances, medical equipment and
  computers. In terms of product, these devices
  have found implementation from joysticks to cell
  phones, flashlights to antennas and cars to
  airplanes.

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Continued...

• Complex production process is likely to challenge
  molded interconnect devices (MID) market size
  through 2023. Two shot molding process results in
  high tooling cost during manufacturing, and this
  is likely to hamper demand. As a result, this
  process finds application mainly in high volume
  production.
• Asia Pacific molded interconnect device market
  share is estimated to witness growth and hit USD
  505 million by 2023, growing at 14.3 CAGR from
  2016 to 2023. It is forecast to be the most
  attractive regional industry. China is
  anticipated to be the key region, owing to
  availability of low priced components across the
  region.
• North America and Europe are forecast to be
  driven by steady demand across end-use sectors.
• Major players operating in the industry are
  Molex, Harting Technology Group, TE Connectivity,
  MacDermid, SelectConnect Technologies, LPKF, RTP
  Company, etc.

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China molded interconnect device market size, by
application, 2012-2023 (USD Million)

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360 Analysis

• Application Analysis
• Telecommunication application accounted for more
  than 60 of the global revenue in 2015, and is
  poised to grow at 13.6 CAGR from 2016 to 2023.
  The growth can be primarily attributed to
  increasing usage in antennas. Automotive is
  forecast to witness the fastest growth in the
  coming years at 14.8 CAGR, owing to increasing
  product adoption in brake-light fixtures.
• Regional Analysis
• Asia Pacific molded interconnect devices market
  size was valued at over USD 175 million in 2015.
  Growth across the region can be mainly credited
  to availability of low priced components in
  China.
• Europe MID market share is expected to exhibit
  potential growth owing presence of large number
  of automotive industries across the region. The
  regional industry was valued at USD 24 million in
  2015 and is projected to grow at 12.2 CAGR from
  2016 to 2023.
• Competitive Market Share
• Key industry participants accumulating major
  molded interconnect device market share include
  Molex, TE Connectivity and Harting Technology
  Group. Other notable players are MacDermid
  Incorporated, LPKF Laser Electronics,
  SelectConnect Technologies, and RTP Company.

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